We follow up last month’s Q&A with comments based on what we’ve seen in energy companies’ Q4 results and guidance for 2021, since the previous issue of EIA earlier this month. Save the date for our next members-only web chat on February 25 starting at 2 pm for more on individual companies and other questions.
Q: Is there anything in the results and guidance reported since the previous issue of EIA to make you more bullish on the coming year for energy stocks? Anything to make you guys more bearish on this sector?
RC: I very much like the fact that we’ve seen our first midstream merger where a third party is buying a whole company: Energy Transfer LP (NYSE: ET) buying Enable Midstream Partners (NYSE: ENBL). They didn’t pay much of a premium. But historically, this type of M&A has been a sure sign the bottom of the cycle is behind us.
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Elliott and Roger on Jul. 29, 2021
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